Ringgit ends higher vs US dollar on Monday

  • Economy
  • Monday, 30 Jul 2018

At 9.03 am (0103 gmt), the ringgit was quoted at 4.0530/0600 against the greenback compared with Tuesday 's close of 4.0445/0485.

KUALA LUMPUR: The ringgit closed firmer against the US dollar as demand for the local currency was fuelled by a rebound in oil prices, dealers said.

At 6pm, the ringgit finished at 4.0550/0600 versus the greenback from 4.0600/0650 recorded on Friday.

A dealer said the oil prices, which fell more than six per cent this month due to worries over the US-China trade war, rose on fresh concern over supply disruptions.

At press time, the the benchmark Brent crude increased 0.28 per cent to US$74.97 per barrel.

The dealer said the weaker dollar ahead of the Federal Reserve's interest rate decision and non-farm payrolls for July, has also helped lift oil prices.

Against other major currencies, the ringgit was traded lower except for Singapore dollar which increased to 2.9761/9809 today from 2.9763/9806 on Friday.

The local currency fell against the Japanese yen to 3.6509/6563 from 3.6508/6562, depreciated vis-a-vis the British pound to 5.3202/3283 from 5.3117/3199 and declined against the euro to 4.7379/7445 from 4.7193/7264. - Bernama
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ringgit , Brent crude


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